Transmitting and receiving system



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Harald B.'Hubi 1 :ismn

j Jul-m LBellam Patented Dec. 28, 1937 UNITED STATES PATENT OFFICE 2,103,296 TRANSMITTING AND RECEIVING SYSTEM Application April 19, 1930, Serial No. 445,746

10 Claims. (Cl. 177-380) The present invention relates to transmitting and receiving systems, but is concemedmore particularly with systems of this kind wherein the transmitter comprises a register sender and wherein the .receiver comprises an indicating device responsive to impulses received from the transmitter. I

The main object, broadly stated, is the production of a new and improved transmitting and receiving system suitable for transmitting information regarding the selling price of stocks so that such prices may be received and set up on indicators at a plurality of points.

The system herein disclosed is similar in cer- 3 tain respects tothe system disclosed in the application of Bellamy et al., Serial Number 378,208,

filed July 15, 1929, and to the system disclosed in the application of Bellamy, Serial Number 413,205,

filed December 11, 1929. As pointed out in these prior applications, it is customary for a stock broker to have a so-called stock ticker in his office from which a tape slowly unwinds, giving the selling prices of the active stocks. The broker has an attendant who reads the tape and marks down on a blackboard the prices of such stocks as the broker deals in, so that the waiting customers may see the trend of .the market. In addition to showing the last selling price in a space provided under the name of a given stock, the. blackboard shows yesterdays closing price, todays opening price, the high price of the day, and the low price of the day.

General description One outstanding disadvantage of the method of procedure above outlined is that the person writing down the prices and making continuous changes is as often as not in such a position as to obscure the board from the view of the cusw tomers. In addition, the total amount of labor required, considering the brokers oifices 'as a whole, is quite enormous, and it is to the interest of efiiciency to reduce this'laborto a minimum.

cations, to make use of the usual ticker tape atthe central point, and to provide two operators for setting up the quotations. The stocks are.

listed by means of the letters of the alphabet,

some stocks being represented by a single letter, some by two, and others by three. In order to make a division of stocks between the two operators, all stocks represented by the letters A to K may be assigned to one operator, as well as all I stocks of two or three letters of which the first letter is A to K. The second operator takes care of the sales involving the stocks L to Z and the plural-letter stocks whose designations begin with any one of the letters L to Z.

Certain outstanding features that distinguish the present systems from the systems disclosed in the above-mentioned prior applications are as follows:

1. In the transmitter, instead of providing translating relays permanently connected to the stock-letter registers with a. plurality of separate circuits carried by the contacts of each translating relay, stock-translating relays arranged to be individual to the respective stocks are provided in a number estimated to be sufiicient to meet the requirements, and arrangements are provided for shifting the connections of the individual stock relays from time totime as stocks appearing in the market are removed and other stocks are added. I

2. In order to increase the speed at which th digits representing stock quotations can be transmitted, two conductors are provided between the transmitter and the receiver, and impulses of two polarities are sent over the two conductors, enabling four digits to be transmitted in the same time as one.

In addition to the foregoing, the present disclcnure contains a number of novel features, having to do for the most part with the detailed workings of the system, which can be understood best in connection with a description of the operation.

Description of drawings Referring now to the drawings comprising Figs. 1-21, they show by means of the usual circuit diagrams and mechanical drawings a transmitting and receiving system embodying the features of the invention. More in particular, Figs. 1-9 show a transmitter which may be designated as the transmitter Tl; Fig. indicates the transmitters T2, T3, and T4, together with a few of the plur'ality of receivers; Figs. 10-16 show circuit drawings of one of the receivers, RE3; Figs. 17 and 18 indicate mechanical details of a stock register used in the receiver; Fig. 19 is a table showing the code according to which the transmitter is operated; Fig. 20 shows the code according to which the local sender in the receiver is operated;

and Fig. 21, appearing on the lower part of the same sheet with Fig. 5, a layout of Figs. 1 to 16.

The transmitter In the transmitter, Figs. 1 to 9, the apparatus for registering the stock-designating letters, set up on the stock letter keys of Fig. 1, comprises the stock registers SRl, SR2, and SR3 of Fig. 2; and the apparatus for translating the registration of stock letters into a three-digit code to be sent to the receiving stations comprises the individual stock relays of Fig. 3, as well as the intermediate distributing frames lDF-I and IDF2. The price registers for registering the price (at which a current stock transaction took place)- under the control of the digit keys of Fig. 5 comprises the price registers shown in Fig. 7. The price register PH registers the price-hundreds digit; the register PT registers the price-tens digit; the register PU registers the price units; and the register PF registers the price-fractions digit. These designations hold true in case a full price quotation is sent, but the arrangement varies somewhat in case a lesser number of price digits is sent as will be hereinafter explained.

The stock-code registers, shown in Fig. 4, are set from the translating apparatus of Figs. 2 and 3 through the intermediate distributing frames lIDF-l and lDF-2, and they comprise the stock-hundreds register SH, the stock-tens register ST, and the stock-units register SU. It may be further pointed out that a so-called stock-range indication (to be later explained) is registered on the stock-range register SR of Fig. 6 under control of the range keys of Fig. 5, and that a price-range registration is set up automatically by the action of the transfer relays,

Till, I03, I05, and 101, associated with the price registers of Fig. 7.

It will be noted that the lower portion of Fig. 6 includes a rectangle labelled register set #2." This register set #2 contains a duplicate of the equipment shown in Figs. 4 and '7, of the equipment of Fig. 6, shown above, and the relays Gil and H5. The two register sets are arranged to be used alternately so that a second registration may be set up immediately following the first and while the first is held stored on the first register set and is being transmitted. The relays 6H and 615 are common to the two registers and are arranged to switch from one register to another automatically at the end of a registration so as to automatically switch the next register into service.

The apparatus shown in Figs. 8 and 9 is the sending apparatus and it sends digit impulses under the control of the two register sets shown in Figs. 4, 6, and 7. The impulses transmitted by the sender of Figs. 8 and 9 go out over the conductors I854 and are repeated to the several receiving stations by the repeater RI Fig. 10, as will be hereinafter explained.

The receiver In the receiver, Figs. 11-16, the polarized impulse relays Hlll-MM respond to impulses sent out by the transmitter of Figs. 1-9 and repeated by the repeater Ri, Fig. 10, and send impulses to set the primary or receiving registers of Fig. 11, SHPH, ST-PT, SU-PU, and SRr-PF- These primary registers, in turn, transfer the received digits to the stock and price secondary registers or storage devices of Fig. 12. The stock registers of Fig. 12 are labeled SH, ST, SU, and SR. They are the hundreds, tens, units,and range registers, respectively. The price registers are labeled PH, PT, PU, and PF. They are the hundreds, tens, units, and fractions registers, respectively.

Fig. 13 shows the stock-relay hundreds selector comprising relays i3illi3|0, of which the relays 13!, I302, and Hill only are shown; together with the associated terminals provided below the relays for suitable interconnection between the relay contacts and the stock relays, such as the stock relay Hill. The stock relays are divided into ten groups of not more thanone hundred relays a group, and the relays-oi Fig. 13 are operated in accordance with the stock-hundreds digit to select the hundreds group in which.a stock relay is to be operated.

Each stock on the receiving board is represented by twenty registers, such as the register Rl, Figs. 17 and 18, Fig. 18 being a frontview. These registers are arranged in flve horizontal rows, four registers to a row. The top row (YC) indicates yesterdays closing price; the next row (OP) indicates todays opening price; the next row (HI) indicates todays high price; the next row (LO) indicates todays low price; and the bottom row (LA) shows the last price at which the stock sold. The stock-range relays i655 and I659, operated under the control of the stock-range register SR, Fig. 10, (assisted by the combination relays I65 l 554) correspond, respectively, to the rows of stock registers above named. If the relay i659 alone is operated, the incoming price digits are transmitted to the top row only of the registers, the other relays l655l658 controlling theother rows, respectively.

. Fig. 15 shows the local sender which operates under the control of the price registers of Fig. 12 to send impulses to the stock registers of Fig. 16.

Detailed description paratus shown will now be given. For this purpose, a description will be given of the operations involved when the operator at the transmitter Tl, shown in Figs. 1 to 9 sets up a quotation on her key set, of which the stock-letter keys are shown in Fig. l, and the digit keys and range keys are shown in Fig. 5.

It will be assumed that the register set #I, comprising the registering apparatus of Figs. 4 and 7, and of the upper portion of Fig. 6, is in service at this time, this being true because the relay 6 is energized, as shown, and because the relay H5 is deenergized, as shown. It will be assumed further that the letters representing the stock whose quotation is to be transmitted is the one represented by the letters B, B, and A, and that the price to be transmitted is 104 and A; dollars (1041). The numerator only of the fraction's of dollars is transmitted; the denominator 8, being the same in all cases, is not transmitted.

It will be assumed further that this is neither the high price nor thelowpriee of the day and that itis accordingly set up as merely the last price, abbreviated, LA. The full indication to be set up may be represented by BBA-l041LA. The first portion is set up by operating the stockletter keys of Fig. 1. The second portion is set up by operating the digit keys of Fig. 5; and the final portion (the stock range indication) is set up by operating a range key 'of Fig. 5.

Stock registration To set up this number, BBA-1041--LA, the

Efl

Val

key, the operating plunger returns to normal, and

the contacts of the key open.

When the key B is pushed, a circuit is closed from ground through the contacts of the key and through contacts of the normally-energized connecting relay 202 for the register relay B of the stock register SRI. Relay B energizes and at its inner-upper armature closes a locking circuit for itself through the transfer relay 20| from the grounded conductor 250, which is grounded through contacts of relays 201, 208, and 209. The locking circuit for relay B does not become effective, and relay 20l remains short-circuited and deenergized, as long as the-key B of Fig. 1 is held depressed; but, when the key B .is released, the short circuit is removed from around relay 20l and it energizes, in series with relay B and opens the circuit of relay 202 and closes a circuit for connecting-relay 204 through the inner armature of relay 203. Relay 204 pulls up, and relay 202 falls back and disconnects the conductors of the keys A to R from the storage relays A to R of the stock register SRI. It will be noted, of course, that only the relays A, B, and R of this set are shown and. that only the corresponding contacts of relay 202 are shown. It will be understood that the intervening relays are connected up in the same manner as those shown. A similar curtailment occurs in the case of the registers SR2 and SR3, and in each case, it has been for the purpose of simplifying the drawings.

When the operator depresses the stock-letter key B to register the second stock letter B, a circuit is closed through contacts of relay 204 of the stock register SR2 for the B relay in this stock register. It will be noted that this relay is designated B. This indicates that the operation of this relay registers the second letter of a stock, and that the first letter may be any one of several. When the relay B operates, it closes at its inner-upper armature a locking circuit for itself to the said grounded conductor 250 by way of the transfer relay 203. Relay 203 is accordingly operated when the key B of Fig. 1 is allowed to restore, and it transfers the operating ground from relay 204 to relay 206 by way of contacts of the transfer relay 205. Accordingly, relay 204 falls back and disconnects the stockletter keys A to Z from the second-letter storage relays A to Z', and relay 206 energizes through contacts of relays 20l, 203, and 205, and connects the stock-letter keys A to Z to the third-letter relays ---A to .Z of the stock registerSR3. The relays of the register SR3 are designated in this manner to indicate that they are the third letter relays and that the first two letters are variable letters; that is, either one of the first two letters may be any one of a plurality.

When the operator depresses the key A of Fig. 1 to register the third letter A, a circuit is closed through contacts of relay 206 for the relay -A, which operates and at its inner-upper armature closes a locking circuit for itself through relay 205 to the grounded conductor 250. 'Accordingly, transfer relay 205 operates in series with relay A when the A key is released, and at its inner armature it disconnects relay 206 and allows it to fall back and dissconnect the stockletter keys froni the associated relays A to The stock BBA, concerning which the quotation is about to be transmitted, has now been identifiedv on the registering apparatus of Fig. 2

a by the above-described energization of relay B of the stock register SRI, of relay B of the stock register SR2, and of the relay A of the stock register SR3. This three-letter registration is to be subsequently translated by the translating apparatus of Fig. 3 into a pre-assigned threedigit codein a manner to be hereinafter pointed out.

Price registration Referring now to Figs. 5, 6, and 7., when the operator depresses the digit key I, Fig. 5, to register the price-hundreds digit l of the price designation 1041, a circuit is closed from ground through thethree contact pairs of the digit key M operate, they close locking circuits for themselves at their inner armatures through transfer relay 10! to the grounded conductor 606, conductor 606 being grounded at this time through the normally-closed contacts controlled by the upper armature of relay 615, conductor ml, and the lower contacts of the error relay 209, Fig. 2. As a result, when the digit'key l of Fig. 5 is allowed to restore, the locking circuit for relays A, B, and C becomes effective, and relay (0| energizes therein and transfers the grounded conductor 60'! from relay 1'02 to the connecting relay 104, through contacts of the transfer relay 103. Accordingly, relay 102 falls back and disconnects the key conductors 50l-504 from the relays A to D of the price-hundreds register PH, and relay I04 operates and connects these conductors to the corresponding relays of the pricetens register PT.

When the operator depresses the digit key 0 to set up the price-tens digit, a circuit is closed from ground over conductor 503 and through contacts of connecting relay 104 for relay C of the price-tens registerPT. Relay Coperates and locks itself at its inner armature to the grounded conductor 606 by way of the transfer relay 103. Relay 103, accordingly, energizes when the digit key 0 is restored, and it transfers the operating conductor 60'! from connecting relay 104 to the connecting relay I06 by way of contacts of the transfer relay 105. Relay 104 according falls back and relay I06 operates, and conductors 50I-504 are disconnected from the relays of the register PT and are connected to the relays A to D of the register PU.

. When the operator depresses the digit key 4 to set up the price-units digit 4, a circuit is closed from ground through the contacts of the digit key 4 over conductors 50| and 504 for the relays A and D of the price-units register PU. These relays operate and close locking circuits for themselves at their inner armatures through the transfer relay 105 to .the grounded conductor 606. As aresult, when. the key 4 of Fig. 5 is released, relay I05 operates and transfers the operating ground from relay 106 of the price-units register 75 

